Independent Advisor Alliance Lowers Holdings in Chemed Co. (NYSE:CHE)

Independent Advisor Alliance cut its holdings in shares of Chemed Co. (NYSE:CHE) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,254 shares of the company’s stock after selling 66 shares during the quarter. Independent Advisor Alliance’s holdings in Chemed were worth $1,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centaurus Financial Inc. boosted its holdings in Chemed by 136.2% in the third quarter. Centaurus Financial Inc. now owns 5,071 shares of the company’s stock valued at $3,048,000 after purchasing an additional 2,924 shares during the period. Algert Global LLC raised its holdings in Chemed by 100.2% in the third quarter. Algert Global LLC now owns 23,100 shares of the company’s stock valued at $13,882,000 after acquiring an additional 11,560 shares in the last quarter. Cerity Partners LLC grew its holdings in Chemed by 30.8% during the 3rd quarter. Cerity Partners LLC now owns 849 shares of the company’s stock worth $510,000 after acquiring an additional 200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chemed by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 122,788 shares of the company’s stock valued at $73,792,000 after purchasing an additional 9,178 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Chemed during the third quarter worth $3,835,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Insider Activity at Chemed

In other Chemed news, Director George J. Walsh III sold 400 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $597.47, for a total value of $238,988.00. Following the transaction, the director now directly owns 3,046 shares of the company’s stock, valued at approximately $1,819,893.62. The trade was a 11.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $569.35, for a total transaction of $975,296.55. Following the completion of the sale, the executive vice president now owns 6,109 shares of the company’s stock, valued at $3,478,159.15. This trade represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,113 shares of company stock worth $3,557,445 in the last quarter. Company insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

CHE has been the subject of a number of recent analyst reports. StockNews.com downgraded Chemed from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Royal Bank of Canada cut their price objective on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th.

Chemed Stock Performance

Shares of CHE stock opened at $573.57 on Wednesday. The stock’s 50-day moving average is $578.95 and its two-hundred day moving average is $564.99. Chemed Co. has a 1 year low of $523.33 and a 1 year high of $654.62. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.42 and a beta of 0.46.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). The firm had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. Chemed’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.32 EPS. As a group, research analysts predict that Chemed Co. will post 21.43 EPS for the current year.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Chemed’s dividend payout ratio (DPR) is 10.11%.

Chemed Profile

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.